US pending home sales gained momentum in Late-Q2, with the index ↑4.8% yearly and ↑3.8% MoM as buyers reengaged despite rate concerns.
All US regions posted yearly pending-sales gains, showing broad buyer activity rather than a single-market rebound across the country’s spring season overall.
An economist called late-spring activity a buyer rush, saying consumers accepted mortgage rates above ~6% as the new normal for now nationally.
Mortgage rates held in the mid-6% range through Late-Q2, while inflation kept rising, yet current sales activity ran ahead of its yearly comparison.
Because homes usually go under contract one to two mo before closing, pending sales offer an early read on future completed transactions.
